By Thomas Kutty Abraham
Oct. 18 (Bloomberg) -- India's United Phosphorus Ltd. may buy about 39 percent of Israel's Makhteshim Agan Industries Ltd. for $1 billion, the Business Standard reported, without saying where it got the information.
The purchase could make United Phosphorus the world's largest generic agrochemicals maker, the newspaper said. The Indian company is seeking to buy the stake from Koor Industries Ltd., the founders of Makhteshim, Standard said.
United has approached six banks including State Bank of India, ICICI Bank Ltd. UBS AG and Deutsche Bank to finance the purchase, the Business Standard reported.
To contact the reporter on this story: Thomas Kutty Abraham in Mumbai at tabraham4@bloomberg.net
Saturday, October 18, 2008
United Phosphorus May Buy Stake in Makhteshim, Standard Reports
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